New Delhi: Calling for deeper economic integration among the BRICS members, Commerce and Industry Minister Piyush Goyal on Friday said the bloc should open markets further, simplify regulatory procedures and facilitate faster clearance of consignments.
Addressing the opening session of the ‘BRICS Business Forum’ here, the minister pushed for greater opening of services markets. “Let us open our services markets to each other in a real sense,” Goyal told the gathering.
“Joint innovations must become the new norm. We should open markets for each other’s products,” said Goyal, calling for greater collaboration among agri-tech startups across BRICS nations to develop solutions for farmers and boost food security for the people.
Minister of State for Commerce and Industry, Jitin Prasada, stated that it is imperative to transform the economic strength among BRICS countries into tangible business outcomes.
“Our priorities include promoting technology and innovation on a large scale, creating employment opportunities for the youth, ensuring balanced trade among member countries, and elevating partnerships in the service sector to new heights,” he mentioned at the business forum.
Under its 2026 Presidency, India is hosting the 18th BRICS Summit in New Delhi on September 12–13.
India’s Chairship is guided by the theme “Building for Resilience, Innovation, Cooperation and Sustainability.” The theme reflects India’s focus on strengthening existing achievements and institutional effectiveness.It places development, sustainability and innovation at the heart of the agenda.
It also highlights the aspirations of the Global South. India seeks to reinforce BRICS as a constructive and solutions-oriented forum.
Today, BRICS has expanded to 11 countries: Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and the UAE. Collectively, these members represent 49.5 per cent of the global population, 40 per cent of global GDP, and 26 per cent of global trade.
The expansion of the bloc which took place in January 2024 was followed by the creation of a Partner Country category.
(IANS)
